CapBridge gets backing from SGInnovate, Hong Kong govt-linked Cyberport

CAPBRIDGE, a private capital platform backed by the Singapore Exchange (SGX), has got equity investments from Singapore government-owned deep-tech investor SGInnovate and Hong Kong government-linked Cyberport Macro Fund.

Cyberport Macro Fund is a fund of Cyberport, a community of around 1,500 tech firms. Cyberport is managed by government-owned Hong Kong Cyberport Management Company Limited.

The investments mark the close of CapBridge's Series A financing round, bringing its post-money valuation to over US$40 million, The Business Times understands.

The round had attracted investors such as Seoul-based asset management firm Hanwha Investment & Securities Co, which announced an investment of US$4 million last September, and SGX, which had invested in CapBridge's pre-Series A round alongside notable US-based venture capitalist Tim Draper.

CapBridge will use the fresh funds to accelerate the development of its technology solutions. It will use blockchain technology to optimise share tracking, private equity investments, and securities trading settlements for private companies.

SGInnovate's chief executive Lim Jui said: "The disruptions caused by the Covid-19 pandemic have underscored the urgency for alternative fundraising pathways, enabled by deep tech and enhanced connectivity. The CapBridge platform has the potential to optimise the capital raising experience for growth companies in Singapore and the region."

In Singapore, CapBridge Financial holds a capital markets services licence through its primary online syndication platform, and a recognised market operator licence through private securities exchange, 1exchange.

With the backing from Cyberport, CapBridge expects to further scale up its presence in Hong Kong to serve the growing interest in private markets from the region.

Cyberport's chairman George Lam said: "We are delighted to have this opportunity to work with CapBridge and this co-investment will help to unlock value for private companies and family businesses, as well as the investors keen on pursuing private market diversification."